/biz/ - Business & Finance

People are still sleeping on this.

>>20552140
Oh fuck yeah

>>20552236
(And It's A Good Thing!)

>>20552236
>>20552256
>>20552268
Why is it that every single crypto shilled here always has these kind of single sentence responses? This instantly makes me not even bother to look into it even if I'm gonna lose out on it. Is it just the same bunch of you chasing these pumps who always respond with these generic sentences or is it some discord shills? I shall never know.

>>20552140
eugh, anything to do with link is like a big fucking nono for me.

>>20552323
Totally

>>20552140
What could possibly go wrong

>>20552323
>>20552359
The BNT token is crucial to all the Bancor AMM's (automated market makers) as it by design makes up 50% of each liquidity pool on the network. Why is that important? Market participants will be incentivised to stake their long hold token of choice in Bancor V2 liquidity pools due to getting no impermanent losses from staking and having the advantage of single token exposure, while earning trading fees as liquidity providers at the expense of traders executing trades. So if the value of the other tokens in the liquidity pools increases, the BNT proportional value has to increase as well to balance the pool. How will this happen? From BNT stakers getting more favourable dynamic fees if the pool is unbalanced. This creates more market incentive for people to buy additional BNT to 'arbitrage' the fee imbalance from the pools - price of BNT goes up. Another important factor: the BNT supply will be inflated as BNT staking rewards will be given from minting new supply, which amplifies the potential earnings from staking BNT in addition to making profit from trading fees. If you're not staking your BNT, you will be diluted out of your market share %, so there's a game theoretical design for every holder to stake their BNT, which creates the following loop: the more BNT staked > the better the liquidity for traders > less slippage for traders > more volume > more fee earnings for liquidity providers > more demand for BNT > price of BNT goes up > deeper liquidity pools > less slippage > more volume > more fees > more demand for BNT > BNT price goes up and the loop goes on and on until all digital assets are being traded on Bancor or outsourced from Bancor liquidity pools. That's what's called the 'liquidity black hole'. If that loop gets successfully implemented, there's no ceiling to how much BNT could pump.

>>20552323
stay poor then who cares

>>20552323
My bad, would you rather me type out racial slurs or post pics of naked women? If you want more information on a project, go read their blog posts. It's not my job to write out why you should or shouldn't buy something.

In 2020 mankind invented free money

>>20552682
It's just confusing when I see some complete shitcoins with $5000 24hr volume have the same responses as these defi projects. Personally I'm all in LINK since 2018, have about $140k so I'm thinking about maybe using $2k to buy some defi shit, but it also seems like all the defi stuff has already mooned. Looking into "YFI" which Chainlinkgod shilled on twitter.

>>20552757
I'm literally telling you to consider bancor which has been personally shilled by sergey, and you want to buy some shitcoin shilled by some twitter faggot?

alright, good luck anon

>>20552831
Well I'd rather not buy some shit that has already pumped a bunch, but I'll keep an eye on Bancor. What other defi shit you holding? I keep seeing this KAVA shilled as well which is $90m marketcap. AAVE and SNX are already at $400m and $300m.

>>20552995
cashed out of AMPL last week to go all in on BNT at 1.5, which I'm personally expecting to do a 5x within 4-6 weeks and easily a 10x by EOY
could have rode AMPL a lot higher but it doesn't sit with my personal risk tolerance

>>20552140
If this doesn't pump bancor I don't know what it will take other than CT clowns posting their gains made staking Link. I loaded up a couple thousand BNT a couple of weeks ago when Sergs shilled it. I hope it pumps by the time of V2 rollout, cause I am not close enough to 1:1 valuation with my Link I want to pool.

>>20553095
You hold any LINK though? Going all into BNT doesn't feel very safe to me, but I guess you know what you are doing. Might buy some BNT, KAVA and that YFI thing.

>>20553231
I think LINK has tapped out for the time being, it's now top 10 and the days of massive gains are drawing to a close. A good safe hold though.

>>20553302
What about DMM? Coingecko shows $37m marketcap.

>>20553349
Haven't looked in to it, sorry anon.

>>20553349
DMM is my defi play now because it's so cheap while still being legitimate. If there's no serious price action by the Sergey interview and smartcon I'll consider selling for a more established defi player though

Will staking happen only on pools or like tezos I can stake in a wallet?

>>20553690
Right now you can only stake by owning shares of Linkpool I believe. When Bancor V2 rolls out before the end of this month you will be able to provide liquidity in a 1:1 value ratio of Chainlink and Bancor. You will have to check out chainling blog for additonal info for when "real" staking is rolled out. I believe there are two ways to stake and it is a little complicated.

>>20553848
Will that be on LP with chainlink and bnt?

>>20553229

Same. DO you reckon it'll be a 1 token per token valuation? or based off Fiat value? I have nearly 20k in both, but clearly they are very different in fiat wise.

Where can you stake BNT?

>>20554549
Based on their current liquidity pools it's a $1:$1 valuation. So I need Bancor to pump so I can earn more on my link by staking more. Currently sitting at around 3,500 link and 3200 BNT.

>>20553848

This is staking in order to generate fees from the bancor protocol. That is very different form the reputation -based staking involved with participating as a node operator in the chainlink network. Sort of how long distance jogging and sprint team relays both fall under "running".

It all comes down to if V2 accomplishes what it sets out. It will be a mosntrous game changer for DeFi as a whole, as suddenly whales sitting on massive amounts of a single token can generate passive income with no impermanent loss.

THe only issue is going to be on Bancor's side, re the security of their smart contracts. It'll be a move to consider though, as the pools WILL have a limit obviously, but there is also higher risk of losing what you provide as liquidity if Bancor is somehow hacked. They've been diligent with the current audits and their bug bounty, and were it any other crypto I'd be providing I'd take the risk instantly, but even the slighest risk of losing something as special as LINK always needs careful consideration.

>>20554775

Ah right, makes sense obviously. Hahah well at least we're sailing if BNT reaches LINKs fiat price. Would almost be in the right mind of people to push BNTs price to allow them to add more LINK to the pool

>>20554714
https://blog.bancor.network/guide-how-to-stake-liquidity-in-bancor-pools-758df075e7e6

>>20554780
Yeah this guy is correct. I feel pretty good about the security of my link with the oneinchexchange audit and bug bounty.

>>20554780
>>20554897
I'm hopeful for the security audits. They know that their reputation is on the line because of previous incidents and they can't afford to have another one.

>>20554897

Consensys were the other company performing the audit too if I remember correctly.

>>20554966
Yeah me too desu.